VMware (VMW) Blows Up Q2 Expectations
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VMware (NYSE: VMW) shares are moving higher after hours following strong second-quarter results from the Palo Alto, CA-based software provider.
VMware reported a 37 percent increase in revs from $673.90 million last year to $921.21 million. The Street was looking for more modest revenue of $872.96 million.
Net income also increased in multiples, about 195 percent to $220.16 million, or 51 cents per diluted share. Excluding certain items, and net income was 55 cents per share, beating the consensus of 47 cents per share.
"VMware's second-quarter results were driven by strength across geographies and record enterprise license agreement bookings as a percentage of total bookings," CEO Mark Peek commented.
Of the total, license revs increased 44 percent to $465 million, and service revs jumped 30 percent to $456 million.
Looking ahead, VMware sees third-quarter revs of $915 to $940 million, much stronger than consensus views calling for $897.9 million.
VMware shares are up well over 6 percent late Tuesday, adding to a 5.2 percent move higher over Tuesday's intraday session.
VMware reported a 37 percent increase in revs from $673.90 million last year to $921.21 million. The Street was looking for more modest revenue of $872.96 million.
Net income also increased in multiples, about 195 percent to $220.16 million, or 51 cents per diluted share. Excluding certain items, and net income was 55 cents per share, beating the consensus of 47 cents per share.
"VMware's second-quarter results were driven by strength across geographies and record enterprise license agreement bookings as a percentage of total bookings," CEO Mark Peek commented.
Of the total, license revs increased 44 percent to $465 million, and service revs jumped 30 percent to $456 million.
Looking ahead, VMware sees third-quarter revs of $915 to $940 million, much stronger than consensus views calling for $897.9 million.
VMware shares are up well over 6 percent late Tuesday, adding to a 5.2 percent move higher over Tuesday's intraday session.
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